Dear Fed: Stop Bickering And Cut Rates

Anti-inflation hawks on the Federal Reserve Board's policy committee should stop dive-bombing every sign of inflation and join the task of promoting an economic recovery. Fed Chairman Alan Greenspan and others have a clear long-term goal of cutting inflation, but the hawks appear much more willing to sacrifice growth in pursuit of that goal. The March employment report painted a grim picture of the economy, and it justified a further easing of monetary policy. However, the internal squabbling over inflation has delayed a much-needed cut in interest rates, at least until Washington's next set of price reports.

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